What's New - May 2004

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From
the EBRI-ERF Retirement Security Projection Model: Can America Afford
Tomorrows Retirees:" If current patterns continue, there will be an
annual shortfall of at least $45 billion by 2030 between the amount retired Americans need
to cover basic expenses and what they have. A new study by the Employee Benefit
Research Institute in collaboration with the Milbank Memorial Fund suggests that while
many middle-income Americans could provide for their own future by saving 5 percent of
compensation annually in addition to the retirement benefits they are already expected to
receive, this remedy wont work for many in the lower income brackets. Results
of the study were published as the November 2003 EBRI Issue Brief.

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The
U.S. Department of Labor (DOL) has established a National Call Center to serve its
customers. By calling 1-866-4-USA-DOL, America's employees and employers
can find answers to questions on a range of employment issues. This toll-free
service offers live operator assistance and is a central access point for all DOL services
and programs. It serves both English and Spanish speaking callers. The Call
Center can assist workers and employers with questions about job loss, business closures,
pay and leave, workplace injuries, safety and health, pension and health benefits, and
reemployment rights for reservists.

[5/4/04] U.S. House Committee on Education and the Workforce,
Subcommittee on Employer-Employee Relations: Hearing on Examining
Long-Term Solutions to Reform and Strengthen the Defined Benefit Pension System.
Witness
List and Testimonies. Press
Release.